The daily Dagens Næringsliv has scrutinised Norfund, focusing on internal conflicts, losses and the partly Norfund-owned management firm Aureos Capital Ltd, which is registered in the tax haven Mauritius.
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The World Bank no longer has objections to Bujagali and Karuma hydropower projects in Uganda being developed in parallel. As the initial discussions about funding transmission lines get underway, potential financiers for Karuma are queuing up.
Since the year 2000, Sida has poured SEK 380 million into the Swedish National Land Survey. Most of this has been channelled through NLS’s export arm, Swedesurvey. As more contracts are put out for tender, Sida has signed a framework agreement with NLS in order to “develop a closer relation between Sida and NLS”. So far the year-old agreement has resulted in SEK 62 million in assignments for NLS up to 2009. By the end of the decade, total Sida transfers to NLS/Swedesurvey will likely exceed half a billion crowns.
Norfund has lost every other crown it put into projects it has divested from since it was established in 1997. By the end of last year, Norfund had exited from ten projects and lost money on eight of them. Norfund suffered the largest losses on the first joint ventures it made with Norwegian partners.